Transcript

00:00:01

>> Back in Brussels, cap in hand. Greece's finance minister hoping for a pass mark on the country's reform agenda to help unlock its next tranche of bailout money. Although Athens is no longer seen as a social pariah of past summits, as much as 11 billion euros is on the table.

00:00:19

Reuters Paul Taylor is following proceedings in Brussels and says the money is desperately needed.>> That money will enable Greece to repay bonds that it has to redeem through the European Central Bank in July, pay the next installment of money it owes to the International Monetary Fund, and then make a start on paying the arrears to its domestic suppliers.

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One of the many things that is clogging up the Greek economy is that the government owes the private sector billions of euros and hasn't been able to pay it.>> Ministers from the 19 euro countries are in town to hopefully strike a deal. Athens paving the way on Sunday bypassing controversial pension reforms and tax hikes in Parliament.

00:01:05

But not everyone is on the same page over whether to grant Athens debt relief.>> If you talk to the International Monetary Fund, then debt relief is front and center. It has to be on the table, because they say that Greece's debt is unsustainable unless it gets substantial relief from it's euros owned creditors.

00:01:23

>> Germany, though, is pushing to delay any decision on debt relief until the Greek bailout program ends in 2018. Finance Minister Wolfgang Schäuble suggesting on Tuesday that the pessimistic assumptions of the IMF are not always right, but admitting that without it on board, there is no program.>> The likelihood is that today, they will agree to the short-term measures to get Greece its money to approve the next charge of loans but kick the can down the road on the issue of debt relief.